Don't think there is on the stock dialling application, just had a quick search on Android Market and there seem to be quite a number of options many of which are free so I'd have a look there and see if you can find what you want there.

I use the stock contact list - favorites. When you one it you'll see 2 tabs. The second is marked by a star. You can add contacts there and is kind of a speed dial. The only problems are
1. you must have a contact picture in order to diferenciate the persons there
2. after you select the contact from favorites, you must press again the pnone no. to call